Escrow 1099 Interest Screen

If you distribute interest on escrow to homeowners, you must document this by sending an IRS 1099INT form to each homeowner. You also must send an additional set of these forms with an IRS 1096 form cover sheet to the IRS. Verify the dates on which these forms must be sent by consulting the Internal Revenue Service.

You can use the Escrow 1099 Interest screen to help you with this process. To access the Escrow 1099 Interest screen, open the Finances tab in the Keystone ribbon and click 1099/1096 Forms.

You can edit your affiliate name, telephone number, and fax number on this screen into formats that are acceptable for the IRS forms. Editing these values on this screen does not change these values elsewhere in the database.

You should complete all Affiliate Information and Affiliate Person to Contact information before attempting to process the IRS forms.

Affiliate Information pane

This information about your affiliate will be used when generating the IRS forms.

Field Name	Type	Description
Name	Entry	The name of your affiliate. If your affiliate name is longer than the field provided, your affiliate name will “wrap” when it is displayed or printed on the IRS form. In all likelihood, your affiliate name will "break" in a place that you do not want. You have two options for correcting this: 1) abbreviate part of your affiliate name (for example, use HFH instead of Habitat For Humanity), or 2) add spaces in the Name field to get your affiliate name to “wrap” in an appropriate place.
Federal Identification Number	Entry	Your affiliate's Federal Identification Number.
Telephone	Entry	Your affiliate's telephone number. The area code should have no parentheses around it and there should be at least two spaces between the area code and the rest of the number. Edit as necessary to make the phone number adhere to IRS standards.
Fax	Entry	Your affiliate's fax number. The area code should have no parentheses around it and there should be at least two spaces between the area code and the rest of the number. Edit as necessary to make the phone number adhere to IRS standards.

Affiliate Person To Contact pane

This information about your affiliate contact will be used when generating the IRS forms.

Field Name	Type	Description
Name	Entry	The name of the person at your affiliate who should be contacted if there are questions about anything on these forms.
Email Address	Entry	The contact person's e-mail address.

Bottom pane

The list of all homeowners for whom interest has accrued in the selected year.

Field Name	Type	Description
Include	Check box	If there are some homeowners you do not wish to include in this process, you should uncheck their Include check box.
Homeowner(s)	Read-only	The names of the homeowners appear in this column.
House Address	Read-only	The corresponding addresses for the listed homeowners appear in this column.
SSN	Read-only	The Social Security Number (SSN) of the person listed as Homeowner 1 (not Homeowner 2 or the "co-owner") in their Family Partner record appears in this column for the corresponding homeowners.
Interest	Read-only, calculation	The calculated interest generated in the corresponding homeowner's escrow account.

Other fields

Field Name	Type	Description
Year	Drop-down	The tax year for which interest is being calculated. It is located in the upper-right portion of the screen.
Include Out Of	Read-only, calculation	The number of homeowners in the list with their Include check box checked out of the total number of homeowners in the list (as in, 9 Included Out Of 10). It is located in the lower-left portion of the screen.
Total Interest	Read-only, calculation	The total interest for all homeowner escrow accounts listed. It is the sum of all of the values in the Interest column (where the Include check boxes are checked). It is located in the lower-right portion of the screen.

Buttons

Clear All - This button clears all of the Include check boxes for the homeowners in the list. If only a few of the many homeowners listed are to be included, you can click the Clear All button to clear all of the Include boxes and then check only those to be included.
Set All - This button checks all of the Include check boxes for the homeowners in the list. If you want to include most of the many homeowners listed, you can click the Set All button to check all of the Include boxes and then uncheck only those to be excluded.
Close - Closes the Escrow 1099 Interest (1099/1096 Forms) screen.
Forms and Labels - Click to begin the process of generating forms and mailing labels based on the information you entered on this screen.